7 Signs of Financial Abuse in a Relationship

Financial abuse is a type of domestic abuse where one partner controls the other partner’s money or financial resources. This type of abuse restricts a person’s independence and ability to support themselves financially. 

Financial abuse can happen in different ways, such as limiting access to money or interfering with job opportunities. Understanding and recognising the signs of financial abuse is very important for getting help early.

Here are the top 7 signs of financial abuse in a relationship:

1. Controlling Access to Money

An abusive partner might limit or deny their partner’s access to bank accounts, credit cards, or cash. They often claim they’re just managing the money carefully.

The abuser might require receipts for all purchases or give strict allowances, making their partner financially dependent and unable to make independent decisions.

2. Preventing Employment or Education

An abuser may try to stop their partner from working or pursuing education as a way of maintaining control. They could forbid their partner from looking for a job, sabotage job opportunities, or discourage them from continuing their education. This makes it difficult for the victim to become financially independent.

3. Accumulating Debt in the Victim’s Name

Abusers sometimes force or pressure their partners into taking loans or opening credit accounts. They then fail to repay the loans or make payments, which harms the victim’s credit score. This type of financial abuse, called coerced debt, can have serious and long-lasting financial consequences for the victim.

4. Excluding Partners from Financial Decisions

An abusive partner may make important financial decisions without consulting their partner. This includes making big purchases or investments alone. Doing this excludes the victim from important decisions, weakening their role in the relationship and causing financial instability.

5. Stealing or Misusing Funds

Financial abuse includes unauthorized use of a partner’s money, credit cards, or assets. This might involve stealing money, forging signatures, or misusing funds meant for household expenses.

6. Refusing to Contribute to Household Expenses

Sometimes an abuser deliberately refuses to contribute financially to household expenses, making the victim cover all costs alone. This creates significant financial stress and makes the victim increasingly dependent on the abuser.

7. Sabotaging Financial Stability After Separation

Financial abuse can continue even after the relationship ends. This might involve refusing to pay child support, delaying property settlements, or interfering with the victim’s job opportunities. Such actions make it harder for the victim to rebuild their financial security.